News Summary

• China is the world’s largest producer of rare earth minerals, which are necessary for the production of a variety of tech products.
• When the Chinese government announced its most recent restrictions — which would have required foreign companies to apply for a license to export even a small amount of those minerals — the Trump administration fired back by threatening an additional 100% in tariffs.
• The White House now says it's halting plans for those 100% tariffs and pausing other tariffs on Chinese goods for one year.